US Edition‘The Biggest Policy Mistake in 95 Years’
4 Articles
4 Articles
Wharton's Jeremy Siegel calls Trump's tariffs the 'biggest policy mistake in 95 years'
President Donald Trump unveiled sweeping reciprocal tariffs on what he deemed “Liberation Day” earlier this week. The tariffs and threat of a global trade war sent Wall Street spiraling, and some are saying it’s Smoot-Hawley all over again. But one economist says while Trump didn’t learn from the legislation blamed for worsening the Great Depression, the Federal Reserve has. Jeremy Siegel, emeritus professor of finance at UPenn’s Wharton School,…
‘The Biggest Policy Mistake in 95 Years’
Jeremy Siegel, professor at University of Pennsylvania’s Wharton School, told CNBC that President Trump’s sweeping tariffs could be worse for the U.S. than the Smoot-Hawley Tariff Act of 1930. Said Siegel: “I think this is the biggest policy mistake in 95 years. I don’t know why Trump didn’t learn the lesson of the Smoot–Hawley Tariff Act, because I know the Fed learned the lesson of its mistakes in 1930, ’31 and ’32. That’s one reason why the g…
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